The National Financial Regulatory Administration (NFRA) has issued an exposure draft to solicit feedback on its proposals to revise the risk classification of insurance assets.
The impact of the decline in China's real estate market varies for insurers; yet with diversified portfolios, the overall impact is anticipated to be manageable compared to other investment instruments, according to Professor Ricardo Reis, of the London School of Economics.
The National Financial Regulatory Administration (NFRA) has scheduled a series of cuts on interest rates on insurance products. The new requirements are set out in the NFRA's "Notice on Improving the Pricing Mechanism for Life Insurance Products" issued on 2 August.
Lloyd's Insurance Company (China) has earned upgrades from AM Best of its Financial Strength Rating (FSR) to 'A+' (Superior) from 'A' (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to 'aa-' (Superior) from 'a+' (Excellent).
Changes in in legislation and regulation ranks as the top risk by businesses in China for the second consecutive year, according to the Allianz Risk Barometer 2024, the 13th edition to date.
A partial assessment of the disastrous impact of Typhoon Gaemi estimates total economic losses at CNY1.6bn ($220m) just in China's Fujian province alone, says Aon, a global company engaged in risk management services and insurance and reinsurance broking.
China Shipowners Mutual Assurance Association (China P&I or the Club) reported improved operating results in 2023, mainly driven by a combination of narrower underwriting losses and favourable investment income, notes AM Best.
The National Financial Regulatory Administration, China's top financial regulator, has announced that it had given in-principle approval to Anbang Insurance Group and its subsidiary Anbang Property & Casualty Insurance to begin the bankruptcy process.
A total of 74 unlisted non-life insurers posted a combined insurance income of CNY234bn ($32.6bn) in the first half of the year, according to data compiled from the 2Q2024 solvency reports of the companies.
Prudential has appointed Ms Angel Ng as regional CEO, Greater China, customer and wealth. She will join the Group executive committee effective 1 October 2024.